Biotech Stocks…and Benjamin Graham

In a research note out today, Credit Suisse analysts Ravi Mehrotra, Jason Kantor, Anuj Shah and Jeremiah Shepard write that biotechnology stocks are not in a bubble but “rather in a new era,” evolving from “Biotech 1.0 to Biotech 2.0.”

On Twitter, the note was quickly mocked for implying that “this time it’s different,” the expression that the late investor Sir John Templeton said constitute the four most dangerous words in the English language.